COLOMBO (News 1st); President Anura Kumara Dissanayake announced that Sri Lanka is making significant strides toward economic recovery and stability, emphasizing that the government is strengthening the country\u2019s foreign reserves without resorting to further commercial borrowing.<\/p>\n
Speaking on the nation\u2019s financial outlook, President Dissanayake highlighted the rapid progress of investment and development projects from China, India, and Japan, many of which are expected to commence before the end of the year.<\/p>\n
\u201cOur need for dollars is critical, and I\u2019m proud to say Sri Lanka is now generating foreign exchange from multiple sources,\u201d he said. \u201cThis year, migrant workers have sent back the highest amount of remittances in our history.\u201d<\/p>\n
He noted that tourism has also surged, with 2025 poised to become the year with the highest number of tourist arrivals and dollar earnings from the sector. Export income is similarly on track to reach record highs.<\/p>\n
The President revealed that Letters of Credit worth $1.2 billion have been opened for vehicle imports, signaling economic confidence. Additionally, Sri Lanka has received $563 million in foreign direct investment through the Board of Investment (BOI) in just six months\u2014a 101% increase compared to the previous year.<\/p>\n
Four new projects in the Colombo Port City have also been approved, valued at $1.4 million.<\/p>\n
\u201cFor years, the government\u2019s accounts were in overdraft. Today, the Central Bank maintains reserves worth trillions of rupees,\u201d he said.<\/p>\n
Foreign reserves currently stand at $6.3 billion, with expectations to surpass $7 billion by year-end.\u00a0<\/p>\n
Addressing concerns about 2028, President Dissanayake dismissed fears of economic collapse, assuring that debt restructuring has minimized repayment burdens through 2031.<\/p>\n
\u201cWe\u2019ve entered all repayment data into our financial systems. If we borrow today, we already know what we\u2019ll need to repay by 2040,\u201d he added.<\/p>\n
The government expects revenue of Rs. 4.5 trillion in 2025, with actual earnings already exceeding estimates. Customs has earned Rs. 80 billion more than projected, and the Excise Department has seen a 103% revenue increase in the first five months.<\/p>\n
\u201cWe are generating income. This government will not collapse,\u201d the President affirmed. \u201cWe\u2019ve stabilized the first step of the economy. It\u2019s stable. There is hope. Investors are coming.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"COLOMBO (News 1st); President Anura Kumara Dissanayake announced that Sri Lanka is making significant strides toward economic recovery…\n","protected":false},"author":2,"featured_media":36791,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[21616,21617,84,1112,4800,1294,1776,21615,21614,1501,738,9351,14215,56,54,55,11556],"class_list":["post-36790","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-21616","tag-akd","tag-business","tag-collapse","tag-commercial","tag-economy","tag-in","tag-lanka","tag-loans","tag-more","tag-no","tag-not","tag-sri","tag-uk","tag-united-kingdom","tag-unitedkingdom","tag-will"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/36790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=36790"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/36790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/36791"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=36790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=36790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=36790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}